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  FOX Business    Cavuto    News/Business. Business news  
   and interviews; with Neil Cavuto.  

    July 13, 2013
    3:00 - 4:01am EDT  

it will be exciting. thank you for joining us. have a great night. we will see you on monday >> the irs starting tea party years. the union said targeting virus bonuses trying to make sure that employees started the scandal are not stopped from collecting their bonuses. welcome, everyone. the acting headf the irs wants to block workers from collecting an extra $70 million. but union representing the that it would violate their contract. tea partier study mill is furious about these. melissa frances is here as well. sounds fair. >> first of all, we have a union within our own government. does that -- tt seems really weird. they're having to hire people to protect themselves from
ourselves and using taxpayer dollars. that's my question. charles: a little more upset. their work full-time for the union. even though they're being paid by the irs. >> what does it take to get a bonus? you know, you get a bonus because you gabove and beyond your job and do something extraordinary. here's my question, to the audit more people,ind me loopholes or did they just when the limbo contest? what do you have to do? >> it's a great point because in finance you can quantify exactly what someone does to get a bonus. how much more money made on the money you were given. what to do with these guys? you collected this much more? acting chairman saying this is not a reflection of a quality performance of the work done by you or your colleagues but a unfortate byproduct of the budgetary situation. what you mean is not a reflection of the quality of the work?
that's when a bonuses. suppose to exactly reflect the quality of the wk you did and did not to. why in the world would not be in response to the poor job they have done? charles: is this just that union, it's like a euphemism. >> guaranteed. by definition about thiss not guaranteed. it's an incentive to work harder and do more, stay later, produce more. it is not guaranteed. charles: may be to your point th did do what they wanted. maybe they did turn it. maybe by targeting people like you they get these bonuses and that's of the erin did. >> the stairs in because everyone can make mistakes. you have to file taxes, it takes a phd. charles: i do one sheet. >> was it the fact that they have all these tax dollars because she forgot to file that should put good will the nation's? ag guarantee these are six
figures in most cases are much more than anything if they ever actually collected from people. charles: here we are in this era of sequester, shared sacrifice, government actually trying to do what people watching the show ha had to do for the last five years, tighten the belt and go without and maybe lose a house committee lose a job. this is outrageous. no matter what side of the political aisle, you should be upset. >> and in the wake of all this serious economists are sguine need to dramatically overhaul the tax system. this is just the nature of the beast. people are doling out money that is not theirs. they don't do it in the same way we would if it is years. when you have government workers giving other government workers bonuses the more generous with it. that's why you see economists say we need a simpler tax code, something that takes the temptation out of it where it is not so subjective 26 here is the
thing, this is more powerful every day. the more powerful against the more powerful it becomes. might have ge past the point where anyone can run the san. >> nine know why our country is 7 trillion in debt. go look at detroit. the reason why detroit is bankrupt is because of the union involvement. show me in case an example that helps the business long term. the majority usually have to close their doors and lose all thei workers. look at walmart. now on no where government is in trouble. charles: the president is a friend of the union. what do you think? this it feels like washington is so tone deaf. at least the commissioner stepped up and said you guys will get it, although he tried couch it in a way that did not imply that they did a poor job. >> however he does i hope that they stand up and don't go through with it.
it's darwiniin in its nature. this is how big government turns out. thus far we have to slim down the tax code once and for all. i hope the silence that and does not distract from. charles: and help ultimately we don't have to it some sort of a brick wall. does this seem like we did in epiphany a matter what the news story is in the become more averages each time. thank you. appreciate it. there is the irs mess, but the press is all but saying that the budget itselfs fixed. check out these headlines. the meet growing about the $116 billion surplus. raw that's the biggest applause of five years, taxes are way up, and that's one of the things that helps drive the surplus of. toward that this would give the administration person to hike taxes even more. >> i'm concerned because any time there's more revenue in washington, the results of a tax hike or even the result of economic growth, what to
politicians to? they spend it. it's like giving our callers the keys to a liquor store. we have a combination of two things happening. obama is getting more money from a vessel clef, not as much as he thought, but mostly the economy, even though with the very weak recovery by historical standards we're getting a little bit of additional job growth, little t of additional economic growth command that spins off to the government and the politicians to be allowed. we are getting free candy. charles: here's the thing. the media reports this. it gives the impcation that may be the way to go is to just sort of spend willy-nilly compatibility go is to raise new taxes. in the public, when he says we need to continuwith this policy of hiking taxes onhe so-called rich, maybe of the public behind. >> two this. first, there is appointed
richard keepaising taxes so much that you don't collect any more revenue. we have seen that in califorora. we are seeing it in european countries. charles: california is saying the same thing. we have a surplus. govern brown as a genius of this policy works. what i'm saying i y you understand the curve. a lot of people watching this show don't. maybe we have to get the law of diminishing returns before there is a general epiphany. >> what happened is actually a great example. california voters approved prop. 32, they impose a tax increase retroactive to juary 1st. if you're taxing people an income that they already aired there is not a big laugh for curve effect.3 when california will get in trouble is a lot of rich people are going to be moving devastate. with a check like more money for this year and next year that's when they're going to find just like with france's 75 percent tax rate under that crazy president, california
politicians will find, where's the money. and not only that, but even if they collected more money. does this to you automatiially lose money. it simply says you don't collect as much as you think your going to, and in some rare cases you lose money. the point is, they are just going to spend more. that's why i have a simple golden rule, the privateector should go faster than the government. what does that mean? control the growth of government spending. the only fiscal variable at the end of the day that really matters. we see ttat in europe. charles: to your point, we should note, spending in june was $170 billion for our government, the lessons of abrupt 2004 which might be the silver lining in all this is right now. ery weekend. thanks a lot. >> thank you. charles: microsoft working closely with an essay take care of over any and all al look e-mails. more perssion next. and then the chaos in egypt is
not stopping. here is what is really alarming. even with the mess over there folks would rather do busines with them and us. ♪
♪ the. charles: it looks like microft may be playing hard to get. the tech giant reportedly gave despite agency easy access. outlook and how mail e-mail service. this new scandal keeps getting worse and worse. i didn't think that it could, but certainlyly it is unnervingo think that all of these giants are falling over and cooperate with the government's. >> you know, i didn't think it could get any worse either. you anticipate these things, but to find t that it is actually happeniig is very concerning. also, you have to wonder why the american government is so far strong against snowdon. it sounds like they're not concerned about at he is giving to foreign entities but are more coerned with what he is telling the american people. charles: or what else he could have i know he has turned to actually release more information, but my problem is, okay, i expect government spying. i think have all come to the
realization, but the idea that if i do a search, go on microsoft, if i'm using a look, somehow all of this stuff instantaneously is at the fingertips of the government, how does it make you feel? >> it's very alarming and disturbing. it to be doing personal things. of video diary are adjusted journal itself. they clearly can and will be held against you. more importantly, we had congressman back in the day tell us we had to do these things in the age of technology and intelligence that tokyo's for national security. at the same time americans and really wonder what that meant. it is master many questions. think it's time now we are entering aew election cycle tt make this immunity away from this national security interest. when people go on skype and talk to somebody, they don't realize that video is being catalogued, download, and stored.
charles: in other words, if someone sceptic cousin in, you don't think t that's a major security issue? >> no. i don't think so. what's interesting, just regular americans. what americans need to do is to rise up and say, you know what, we he had enoug the bill of rights are important. we do not cover this kind - govern this country by proclamation. charles: i love the idea, is not about whether you're doing something wrong. it's about your rights and protecting them. when you give them away y never get them back. thank you. >> thank you. charles: i want to say that microsoft actually has issued a statement on this. i want to read that now. it's on your screen. microsoft does not provide government with a blanket or direct access to this guy drive, i'll look, skype, or any microsoft product. of course all over the internet people are saying the exact opposite preview will continue to drill into that.
here is why the health care law could be a sinking ship. even unions a jumping ship. why some of the president's biggest backers are backing away ♪
♪ charles: another day, anotr health care blow, another union saying it is not happy and it is launching answer show it. a big electronic workers union blasted president obama over the law saying he is not delivering what he promised. not a good w to end an already tough week for the health care law. >> the unions, this is a huge steel. out in force to support health reformnd now we have unis and retail construction transportation and firefighters stepping up andang we will
break ranks. we did the math and see that health reform is driving up our insurance costs becse the wl have to cover pre-existing conditions and all sorts of things. the unions are saying, we want subsidies for our lower income workers s because the cost is tn up. the administration takes note of that. the other thing, the unions fear that the workers are going to be dropped from company's insurance come to put on test data exchanges. y would it you need a union strike would obliterate the nee for unions because they do collective bargaining forf insurance. charles: and so we all have to find out what was in the bill will forecasted. now it doesn't seem like anyone is happy. it's a shocker the unions are reacting this way. isn't. millions of americans canxpect that their employers are going to sunset there up insurance plans. obamacare stateshat any
employer that provides employment to more tha 50 workers us to provide health insurance coverage that means that is essential requirement coverage stated in the law. if they don't dare find to the 3,000 per worker. that is something that most companies can follow. maybe mcdonald's can't, but we know that companies like darden restaurants, denny's, public jounce pizza, they're all finding ways to al with the risk of whether cutting employees, making more part-time , adding surcharges to the customers. this is a very alarming thing. this was from my perspective a great blow. charles: we s some of the things right after was passed. loopholes, waivers. always felt like the unions, the president have the unions back. maybe doesn't. maybe it will be at the mercy like everyone else. >> well, i am willing to find
the good news here. as a journalist sometimes write a story and find out the bulk of the sides the road aut a your story. as the out virginity to pat yourself on the back and y you did a good job. i think the fact that unions and management are upset about this legislation tells us that maybe it is accomplishing exactly what it set out to do. i need to remind everybody says it has not been said once, adding tens ofillions of more americans to the roles of people who get health insurance. one last point to make. it should not come as a surprise that the people are upset about the way some of it is going to play out. >> she makes a good point. everyone has to buckle up and say we're covering more. the person did to you get to keep your health insurance as it is, but that is what -- that is
now happening for us right now. this is dangerous. charles: one of many promises. >> and i think he's getting to a point that a lot of the supporters of obamacare sank bella is good, but is being implemented poorly. this is a fundamentally flawed law that is also being implemented poorly. i don't think that it is a simple issue of administrative failure he. charles: let me just say, first of all, we know there is a distinct difference between health care insurance and quality health care or even real access to health care, but this was sold as something of an economic elixir. and that was passed and everyone said don't worry about the cost. it's all about the humanity of it. it's not the humanity of it does not work. >> i understand your point. if you say that it was sd as
an economic elixir, not going to disagree with you. that is never what -- that's never why i liked it or why supported it. furthermore, don't think that's why you or against it. i don't kno where sabrina has been, but i only need to set of know what your position was. i know you have been against this all along. i have been for a long. i don't see this as an economic elixir. i see it as a way to give more people of the insurance come getting real people of insurance is good. >> i want give more people of insurance, but i don't think this is an efficient or effective way to do it, and there are lots of ways that we could have tweet our existing health-insurance system on the margins to have made some drastic improvements. think that this i going to be a miserable failure. charles: well, you started this. ready think its going to go? more unions would get upset? >> i think they're going to get
upset. there are already action plans. hey, wait a second, this is what health reform is doing. it could drive up your own insurance coverage. 5%, 10%. when they got rejected for subsidies for low-income workers and their jobs the union said we have to take action. charles: the bottom line, it has been a bad week for the new health care law. speaking of bad weeks, the mess in egypt is costing taxpayers billions ofollars in aid.
it is illegal but congress will vote next week to overturn the laws of the means the money will flow in a matter what jeff batters as many to cut off the funding. how welcome to the show. this is an astonishing development to circumvent the of raws. >> we have done it a couple of times in the past to give waivers but the law is very ear. with the military coup overtakes holidays suppose of the democratically elected government we cut off aid. we should cut off aid
because morsi was radical islamic government and how egypt is like syria there are no good guy icehouse. charles: having said that report ourselv in between a rock when and a hard place we could not support the muslim brotherhood even though i stinkhorn the president wanted to support morsi. >> either way we're in an awkward position because obama has chosen deliberately and willfully abandoned american power in most of the world. how people will say we will send morehouse foreign aid they ask a question at this point we do not have the ability to influence your outcome so for that reason alone we should not give it money. charles: so it feels like the more we put into the
world a less like us how. >> that has always been true but no more than it is now because the president is giving up. he is wllfully abandoning american power and allies have been left twisting in the wind so we're not in the position to say you should do this because nobody will listen to us anyway. obama had given up. charles: i thought when you're go with libya haened we saw the creation of the obama doctrine. he said would not allow leader to kill his own people with resources resources, intelligence and manpower to stop that but supposedly the reason we went into libya. you brought of syria. i can image 100,000. he is killing his people.
what do we do about the obama doctrine? it sort of is a doctrine but it is false. i know what we can do other than electing a president because he is dedicated to the idea to throwmerican power away homeland only differing quite literally to the wind and nato to decide whether we do or don't get involved in the war. this is knight exercising american power. charles: i have to let the audience know 1.6 billion cover of 1.three is a military the rest of economic assistance. but we're out of time but we appreciate it when y come:. thank you. the turmoil in the least is actually putting we'll overrun hundred dollars a barrel and gases of $4 a gall in some areas.
he will talk about if it will get worse because i think we're bracing for the worst. we'll coming gasoline, we saw it come down many weeks in a row it is hard to believe that was crude oil at one '07 to be in the same neighborhood it is now. >> no. it will go up and follow crude eventually but the good news is we are in the long term trend down of oil and natural gas prices because of the shale drilng plus domestic production is up in the u.s.. ironically as the wti and the bread spread comes together that was $20 higher one year ago, so even as like egypt do spill over into the u.s. crisis but
rember we export oil today. if we have aajor mideast eruption we're not inoculated from it but it does affect us even though egypt is not a big producer itself and i don't think the suez will be closed but it underscores the real problem today which is this a venetia split after former gas to said there are no good guys. charles: and we seemextreme violence in iraq also. why is domestic oil starting to move higher so rapidly? >> because we are tethered to the world. anybody who analyzes the oil market will say look at saudi arabia with the 10 million barrels per day of oil, 40 percent of the
population is portia and arrester suny. 30 percent of the eastern zone where they produce the oil is portia, i recommend azerbaijani and iran has a big shia population and the struggles that we see in egypt going on also in syria with president morsi said estrange leave lia was a greater threat to the mideast dan jews when an arab leader says something as inflammatory as that it tells you how bad the split is. charles: you talk out the idea not knowing who to root for with no good guys it is frustrating the maybe because of or economic miracle here we do not lead to get up caught in the fight for crude oil.
thank you. you should not count apple out yet because now looks like the competition is taking itself out.
charles: ups? hard times for microsoft in the white people could be lugging -- running to sprint. first ups delivers bad news for all of us saying it grew less them last year gary b. smith is with us. i this day the market was still up it could be a ups problem trying to throw the rest o us under the bus. >> [laughter] it is not just their problem i think that next said the
same thing. isn't etfs the ultimate economic indicator? if you have any large packager box id you want to ship, what is your alternative? you will not shut down your business. you will say i don't want to spend that on ups, what else will you do? that is why i like them as the long term stock but but, they say business is slow we must be in big trouble. charles: they did mention four things that customers were choosing to the alternative but they were not clear about that. what are the alternatives? but the stock to pay huge hit but it did not impact the market. i thought that was curious. >> never won the alternative is stuff like this people figure how to send a large data pack across the internet the of the bandwidth cost is almost noing for that is a
realistic concern. how will that cannibalize their business but specifically ups because fedex has to negotiate in decreasing parking planes that ups has not started to do yet. if they're serious we will see over the next quarter. charles: let's hope it isn't for the rest of us because we have to come out sooner or later. on the surface it seems microsoft is launching other restructuring but also with the huge price cut steve peddle big microsoft has to worry because they are doing themselves in this is why ballmer does not have to be at the head. you cannot compete o on value or product or technology. this is proof here we go
again. i don't know how they can compete. >> i hear that they go back far. does he have photographs? how does he keep the job? [laughter] >> to have that expression of me to we were getting to do this microsoft has a tablet? [laughter] and then you see the apple store and now microsoft has the knockoff store it is the same store but they're weing different color shirts. is so silly to get a tablet you will say i had the i applied with the negative i will get the ipad. charles: i know we tyler microsoft but i went to the knockoff store it is night and day the people who work there had no clear. i don't know anything about computers but i was helping
them. with the all you can use data eppley and now a spread looks like to make headway against verizon and at&t to offer the cheaper of limited data plan. the others are pushing so do you think they will run to sprint? >> that is a great questio it sounds wonderful be all you can eat buffet. number two, you just ndering if customers know how much they spent onheir data? i see a phone bill it is pretty much the same matter what i do with my family. i don't know really come in maybe i am just the 1 percent that is totally ignorant so if somebody is offering that i don't know if i am saving money or not
maybe it is too much of a hassle but maybe people bel and it is a great deal. charles: read about loss leaders mccann the entire company be a los leader? >> that is an interesting concept i think the phone companies don't like you to understand because then you did have the ability to make a choice this like airline sees that will get smaller and cheaper to 61 $70 for the clean blanket i don't know where the hook is. charles: >> i will pay it mower issues for boeing. another problem for the dreamliner. no passengers aboard it had been parked for a several hours. >> is. there are always to arguments. that this 787 is still new
with 6 million parts with 45 different suppliers the, etc., etc.. things will happen just the odds that things will break maybe this is aig problem and customers will want money back because they cannot fly the planes that they built. whenever i see the overreaction i think the company is always in better ape. think it is a buying opportunity if you're interested in boeing ion't underscore -- did not disagree with the stock but three years late, the plane had the first sixf the battery problem really think it has going for it is one world competitor a round of world but this is not good news. >> no. the stoclately is all about perception. i don't care if it has 6 million parts or flown by leprechauns but if you have problemsnd they're catching on fire that is bad
for the stock. i think it is at a critical juncture if boeing does not get this problem licked they will have a perception probm and so with the chinese aviation companies coming up. chles: but if they go on twitter to dropper rumor? they need to do for attention. the stoctook a big hit but the fact is it is worrisome. >> is everything. i fly a lot of miles every year i went to get on the airpla doubting my equipment i want to know that i will get there at the other end is safely nd securely. it is the equipment that is the issue. charles: talk about the chinese entering the market if the wet pad busted batteries in the chinese
plan any day. >> i will be curious the next time he flies says c.c. what manufacturer the airline is flying? if this is veto i will my do that. your choice is limited. >> but your point every time i fly my 15 year old looks at the permission and knows exactly what kind of airplane i am on and coincidentally he said you re supposed to fly the dreamliner air. charles: you can tell me if the pilot is on his fght for the first time that i love. please let me know we could set up with site tomorrow. another one bites the dust. i am embarrassed to admit i do not respect the women who work for real with the in the times they had to admit -- a psychologist on
political flittering and the huge phenomenon. next.
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>> i begin today by apologizing to have diminished the office you have elected me. the chararges made to bear serious when a friend is compelled to call for resignation came clearly doing something wrong i have reached into my heart and soul and realized i must change my behavior. charles: democratic sid diego mayor he is seeking professional help for his treatment of women accused of sexual harassment going to the list of disgreful headlines so what is the
pile up of philandering politians? let's ask. cooper, what do you make of it? is all part and parcel of the power tripp? >> that is the least part t of itecse we treat them like celebrities of a beha like celebrities. they work for us. we expect them to be civil servants if they spend so much time worrying about themselves and what makes them happy. charles: i do think in general the term civil servant we will have to stop using the but mayors, governors, does it help or hurt the can go away for a little while then come back? in new york we have to high-profile cases coming back and they're both doing very well in the polls. >> it's weirdou cannot change your personality but you talk about people who are high with a narcissism.
so it is that sense of entitlement that i can do things that you can't do i will not behave that way myself.. charles: the narcissist point aside as aossible what drove the bad behavior in the first place? will anthony weeder pick up a camera phone again? >> let's hope not i thin he will be more careful because people are so compulsive if we give them power they will get in the same frame of mind they feel they are entitled to does have to be more careful. charles: so there is a cycle that is beginning and mark stanford came back to be vernor. the be people say is sincere but it does feel like now you can make these gigantic mistes to come back but
actually that has to encourage the initial bad behaor in the first place. >> of course, . there is no consequences. no one steps awaway. they think i got away with it. that is the problem we treat them like celebrities. charles: if we treat em that way. >> we have to stop. it is not our fault they cannot control their sexual urges but it is our fault that we vote for them. charles: it is our fault that we vote for them. do think the mayor steps down? >> you have to do the mikulka. may yet coulter was. >> but what is his game plan ? >> he has to come back then worked at a women's shelter that makes him look as he is
compassionate that he would never do something like that ever again. charles: mr. mays street is moving in a totally opposite direction of women's righ and respect is like a different direction but yet we do hold the elected leaders accountable to the direction the country is moving. >> maybe this is a great time to start votiig for more women. we have not heard of a lot of women. maybe this is a great speech for you. charles: be putting your hat in the ring? >> o god no. with all due respe what they do is very difficult with a lot of pressure. the people around and make them feel entitled. charles: bill clinton became the super super star but for many he disgraced the oval
office and away nobody ever has before. thank you. when it comes to attractiveness the u.s. is not keep up did
charles: victoria's secret models, we are not. out of 100 countries we are number 94 in our tax system below mexico egypt and japan and zimbabwe. our tax code is busted. >>. [laughter] with this we have dropd steadily over the last two -ecades.
let me back up instead of government spending. charles: we were number three? >> in the mid-90s. why not turn it like ireland to get that corporate cash back here at home? time and again with that 24 century pork barrel is the tax code because congress likes to give out favors. they think the tax legislation is progress but not. >> they'll talk about dick seeing that tax code it feellike it gets larger and more cumbersome in the start to fall down like this in the rankings. >> tax reform is a great idea eliminate the loopholes and eliminate the giveaway that may result an increasing taxes.
bu to liz's idea to make it into a tax haven like ireland that is a terrible idea. we're not a little country like ireland or zimbabwe. >> canada did it. no, no, no former satellite soviet states did it in revenues came in with economic growth. >> just one quick point and there is no guarantee whatever you advocated to eliminate the loopholes on corporate taxes that all money would be repatriated and investment is the economy. charles: the word reform means different things to different people. we do know high taxes at some point has the law of diminishing turns and we just have to look at the europeans.
>> our system is complicated and leads to perverse choices about working, a marriage, or buying a at. i don't know but i feel sympathetic to the flat tax idea you get rid of the tax favoritism to have a certainty to stimulate economic growth and job creation and this study shows we're close sold to the social democracy the in europe. >> i hear what she is saying but i also hear what adam is saying. charles: he is talking about raising taxes. >> he has the point not all 2 trillion would come home. bbv wipe out some deductions some corporations and individual taxes will go up
but when you sit down to your tax return you feel that you make stuff up because it is so complicated it has made more liars out of the american people and golf. >> not only all of this money to make us feel like criminals to know how much time it takes to comply? 7.6 billion hours are spent every year complying with the tax system. that is unbelievable. >> avenue with a flat tax is the right idea but i completely agree with the tone. simplification, less cheating and stopping encouraging people to cheat would be good. charles: what about lowering taxes? you have certain entities komer hedge funds or loopholes whose taxes are too low.
charles: you talk about a handful of people chilling yell in the hamptons but f the small business to keep the economy going don't you think the taxes are too high ? >> yes. lower the taxes. >> the top by percent paid 37% in 1980. now is approaching 70 percent so we do have a progressive tax system in place but congress likes to change it because they get favors in exchange. charles: will anybody get serious but. >> doesn't have to start in washington but in california is over 13 percent i am thinking maybe we should move out here and he says absolutely not. i don't know how you would start a business out there or susin life it is extremely high.
charles: if you go to california you better be a good actor or have the engineering degree. ida you are going to. lou: good evening. thank you for being with us. egypt in the state of chaos aftethe ouster of president morsi removing him from power is a to with any reasonable understanding of the definition of the word unless you are the president of the united states. the obama house refuses to call the ouster a coup. the violent clashing in the streets with morsi supporters in more than 50 people killed but listen to the president's prs secretary who